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Old 09-27-2006, 04:44 PM   #1
Spexxvet
Makes some feel uncomfortable
 
Join Date: Dec 2005
Posts: 10,346
I feel left out

For First Time It Takes A Billion To Make Magazine's List Of The Richest Americans

And I'm not even a millionaire...

This is another case of the rich get richer. Here's one reason from here:

Quote:
...
In 1960, the tycoons of America paid a marginal tax rate of 90 percent, which came to an effective rate of about 50 percent after all deductions and credits.

...
Now billionaire tycoons pay an effective tax rate of about 15 percent, or none at all if their accountants and tax attorneys are clever enough.
...
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